MARTIN CHRISTOPHER P 4
Research Summary
AI-generated summary
Provident Financial (PFS) Chairman Christopher Martin Sells 76,327 Shares
What Happened
Christopher P. Martin, Executive Chairman and Director of Provident Financial Services, exercised equity derivatives and immediately sold 76,327 shares on January 30, 2026. The shares were sold in multiple transactions at prices ranging from $21.94 to $22.17 (weighted average $22.05), producing approximately $1,683,010 in proceeds. Footnotes indicate the underlying stock options were fully vested.
Key Details
- Transaction date: 2026-01-30; Form 4 filed: 2026-02-02 (timely filing).
- Transaction type: M = exercise/conversion of derivative followed by disposition (shares sold).
- Shares sold: 76,327; weighted average sale price: $22.05; total proceeds: $1,683,010.
- Price range: $21.94–$22.17; reporting person can provide per-trade breakdown on request (footnote).
- Footnotes note a transfer of 26,413 shares from a terminated ESOP into a 401(k) plan; some related transfers/transactions were not required to be reported.
- Shares owned after the transaction: not disclosed in the provided filing.
Context
This was an exercise of vested options with the resulting shares sold (a cashless or immediate-sale pattern), a common liquidity- or tax-driven action by insiders. Such sales are routine and do not by themselves indicate the insider’s long-term view; purchases are generally a stronger bullish signal.